Sunday, November 27, 2011

Bally's Sells 171 to LA Fitness

Bally's has sold 171 of its existing locations to LA Fitness for about $153 million . Bally's will retain approximately 100 of its locations in key markets.  

Chicago Tribune Article

Sears: Smaller Formats, Web Sales, & Their Brands

Chairman Eddie Lampert is now trying to turn around Sears with smaller format stores, online sales, and relying on their well known brands (Craftsman, DieHard, Kenmore).  Keep in mind, since Lampert took over, he has seen 18 consecutive quarters of declining sales.  Interestingly, Sears has reached agreements with Costco and and Ace Hardware to sell tools in these stores.  They have gone as far as circulating a proposal to companies seeking interest in producing products under its brand names.

Since 2005, Sears has closed approximately 171 stores and Mr. Lampert is now opening smaller Sears Hometown and Sears Auto stores.  With some significant changes, Sears online sales have also jumped about 30%.  

The Wichita Eagle Article

Friday, November 18, 2011

Wegmans Coming to Montgomeryville, PA

As reported in the Philadelphia Inquirer, it appears Wegmans will indeed be coming to Montgomeryville, Pennsylvania.  The Wegmans will be built on the site of the former Boscov's department store.  

Montgomeryville is one of the top retail markets in southeastern and southern New Jersey.  Given the density of the market, land to construct such a large store was simply not available, so redeveloping a site was the only option.  Stuart Conston and Rob Samtmann, both of Equity Retail Brokers, represented the Sellers of the two former department store ground leases; one at the Oxford Valley Mall in Langhorne, PA and the other at the Montgomery Mall in Montgomeryville, PA.  The Oxford Valley Mall location was also previously occupied by Boscov's.

Wegmans will be constructing an approximately 125,000 SF store that will be detached from the Mall.  The grocer's construction schedule is filled for 2012, so the beginning of construction and the subsequent opening have yet to be determined. 


Wednesday, November 16, 2011

Walmart Broke the Losing Streak

Walmart posted a 1.3% increase in U.S. comparable store sales.  The company had a streak of declining comparable sales lasting over two years.  

Thanks to David Goodman of Equity Retail Brokers for catching this article.  Check out his Grocery Blog, Running with Equity Retail.
Supermarket News Article

Kmart & Sears - Shopping Walls

This idea is definitely a new one.  Kmart and Sears will be testing shopping walls.  The walls will contain pictures of toys and quick response bar codes that can be scanned with smart phones.  Customers can make purchases from their phones and the items will be delivered right to their homes.  Walls will be installed temporarily in malls, bus shelters, subway stations, airports, and movie theaters.  
LA Times Article

New Store Announcements, November 1-15

Bed Bath & Beyond – Clarksville, TN, 23,000 SF
Bed Bath & Beyond – Roseville, MN
BJ’s – Pittfield, MA, 84,000 SF
Books A Million – Charleston, SC
Books A Million – Sandusky, OH
Books A Million – South Portland, ME
Books A Million – Waterford, CT
Books A Million – York, PA
Buy buy Baby – Braintree, MA, 33,000 SF
Costco – Pewaukee, WI, 152,000 SF
Dick’s – Fort Smith, AR
Dick’s – Lisbon, CT
Dick’s – Morehead City, NC
Dick’s – Tulsa, OK
Dicks’ (3) – Tulsa Area, OK
Hobby Lobby – Chandler, AZ
Hobby Lobby – Cucamonga, CA
Hobby Lobby – Lakeland, FL
Hobby Lobby – Lynnwood, WA
Hobby Lobby – Niagra Falls, NY
Hobby Lobby - Temecula, CA
Hobby Lobby- Middletown, NY
HomeGoods – Collierville, TN, 24,000 SF
Petsmart – Brooklyn, NY
REI – Carey, NC, 27,000 SF
REI – Dublin, CA
REI – Greenville, SC
REI – Santa Barbara, CA
Sports Authority – Phoenix, AZ
Target – Fremont, CA
TJ Maxx – Abilene, TX
TJ Maxx – Nags Head, NC
TJ Maxx – Washington, DC
Tractor Supply – South Point, OH
Tractor Supply – Valencia County, NM

Monday, November 7, 2011

A Round of Applause for Toys R Us

Toys R Us has done what many thought impossible; turn the company around and return it to a successful viable retailer.  Jerry Storch (CEO) and company did it in the face of a terrible economy and increasing pressures from Walmart, Target and Amazon.  

The company is cutting costs, buying some of its competitors, and ramping up its online effort.  The pricing is good at Toys R Us, but it doesn't always beat the competition.  However, they do win when it comes to selection and providing exclusive toys.  I don't care who you are or how old you are, going into Toys R Us is simply fun at any age.  Try it...

The Seattle Times Article